Flipkart's largest shareholder, SoftBank, may come to a deal with Walmart Inc in the next few days to sell its stake in the Indian e-commerce start-up to the American retail giant at a pre-determined price and time, people close to the development told. “SoftBank and Walmart have agreed on a price and a final decision is expected in 7-10 days,” they said. This comes a day after reported that the Masayoshi Son-led telecom and internet company...

was suddenly having second thoughts about selling its stake in Flipkart at this point of time. SoftBank is the largest shareholder in Flipkart, and when Walmart announced on Wednesday that it would buy a 77% stake in Flipkart, there was no question that it included Soft-Bank's 22.3%.Since Wednesday, there is said to have been a debate within SoftBank over the advisability of selling now because of the steep 40% short-term capital gains tax it would have to pay. SoftBank acquired Flipkart shares less than a year ago for $2.5 billion, and according to Son, that stake is currently worth $4 billion. SoftBank would thus have to hand over about $600 million to the Indian taxman — out of a profit of about $1.5 billion.This has prompted Walmart and SoftBank to re-enter talks on the modalities of the sale, including possible methods of exit.“Walmart wants to make sure that a higher price is not asked for at a later date by SoftBank,” a person privy to the matter said. “There is an agreement; the timing is still being discussed,” he added. While there is a remote chance of SoftBank not exiting at all, in all likelihood it will settle for liquidating its shares at a later date. Walmart and SoftBank declined to comment when approached